A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- ACH TransferAn electronic money movement between banks through the Automated Clearing House network, used for payroll, bill pay, and account transfers.
- Routing NumberA nine-digit code that identifies your bank so payments and transfers reach the right institution within the United States.
- Account NumberThe unique string of digits that identifies your specific account at a bank, paired with the routing number to direct transactions.
- Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
- Online BankingManaging your accounts through a bank's website, letting you check balances, move money, pay bills, and view statements from a browser.
More in Banking
Account ReconciliationAPR (Annual Percentage Rate)APY (Annual Percentage Yield)ATM (Automated Teller Machine)ATM FeeAuthorized User
Plain-English education — not personalized legal, tax, or investment advice.